Power Corp of Canada Purchases Shares of 1,080 Cintas Co. (NASDAQ:CTAS)

Power Corp of Canada purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS – Get Rating) during the third quarter, HoldingsChannel reports. The institutional investor purchased 1,080 shares of the business services provider’s stock, valued at approximately $419,000.

Other institutional investors have also made changes to their positions in the company. Baron Silver Stevens Financial Advisors LLC acquired a new position in shares of Cintas during the third quarter worth $204,000. HWG Holdings LP acquired a new position in shares of Cintas during the third quarter worth $27,000. Quent Capital LLC raised its holdings in Cintas by 169.2% in the third quarter. Quent Capital LLC now owns 70 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 44 shares in the last quarter. Asset Dedication LLC acquired a new stake in Cintas in the third quarter valued at $29,000. Finally, Ronald Blue Trust Inc. acquired a new stake in Cintas in the second quarter valued at $39,000. 61.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In other Cintas news, CFO J. Michael Hansen sold 1,618 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $441.85, for a total value of $714,913.30. Following the sale, the chief financial officer now owns 30,132 shares in the company, valued at approximately $13,313,824.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO J. Michael Hansen sold 1,618 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $441.85, for a total transaction of $714,913.30. Following the transaction, the chief financial officer now directly owns 30,132 shares of the company’s stock, valued at approximately $13,313,824.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael Lawrence Thompson sold 14,795 shares of the business’s stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $444.98, for a total value of $6,583,479.10. Following the completion of the sale, the chief accounting officer now owns 23,318 shares of the company’s stock, valued at $10,376,043.64. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on CTAS shares. Morgan Stanley upped their price target on shares of Cintas from $373.00 to $401.00 and gave the company an “equal weight” rating in a report on Thursday, December 22nd. Robert W. Baird upped their price target on shares of Cintas from $475.00 to $500.00 in a report on Thursday, December 22nd. Wells Fargo & Company upped their price target on shares of Cintas from $393.00 to $450.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 22nd. StockNews.com started coverage on shares of Cintas in a report on Thursday. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Cintas from $495.00 to $530.00 in a research note on Wednesday, December 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $476.10.

Cintas Trading Down 2.1 %

NASDAQ:CTAS opened at $432.34 on Thursday. Cintas Co. has a fifty-two week low of $343.86 and a fifty-two week high of $470.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.53. The stock has a market capitalization of $43.93 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 3.00 and a beta of 1.34. The business’s 50-day simple moving average is $439.91 and its 200-day simple moving average is $431.06.

Cintas (NASDAQ:CTAS – Get Rating) last released its quarterly earnings data on Wednesday, December 21st. The business services provider reported $3.12 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.09. Cintas had a return on equity of 37.89% and a net margin of 15.35%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted $2.76 EPS. Cintas’s revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts expect that Cintas Co. will post 12.68 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, February 14th. Cintas’s payout ratio is 37.43%.

Cintas Profile

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Cintas Corp. engages in the provision of corporate identity uniforms through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.